SoftBank to Acquire ABB’s Robotics Biz for 5.4 B. Dlrs

Tokyo, Oct. 8 (Jiji Press)–SoftBank Group Corp. said Wednesday that it will acquire the robotics business of major Swiss heavy electric machinery maker ABB Ltd. for 5,375 million dollars. The two companies signed a definitive agreement on the deal the same day. Through the move, the Japanese technology investor aims to bolster its artificial intelligence robot operations. ABB will spin off its robotics business into a holding company, and SoftBank Group will acquire all shares in the holding firm through a subsidiary. The Japanese company plans to complete the acquisition in mid-to-late 2026, after obtaining regulatory approvals including in the European Union, China and the United States. ABB has long handled industrial robots used in factories and other facilities. It has an extensive customer network and rich human resources. SoftBank Group, which is putting energy into the fields of AI and robots, said in January this year that it and two U.S. technology giants, OpenAI and Oracle Corp., would jointly invest up to 500 billion dollars in AI infrastructure in the United States over four years. Competition is intensifying both in Japan and abroad for the development of robots that can perform complex operations using AI as the “brain.” SoftBank Group Chairman and CEO Masayoshi Son said in a statement that the company’s “next frontier is ‘physical AI.'” “We will unite world-class technology and talent,” and drive “a groundbreaking evolution that will propel humanity forward,” he added. END [Copyright The Jiji Press, Ltd.]